R&Q

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KPMG appointed to FirstCity

25 May 2010

David Costley-Wood and Michael Walker, restructuring partners at KPMG, have been appointed joint administrators of FirstCity Insurance Group Limited and its subsidiary company, FirstCity Partnership Ltd (together, 'FirstCity'). FirstCity Partnership operated as an insurance broker and risk management adviser in the London and international insurance markets.


FirstCity’s active insurance business was sold to Arthur J Gallagher (UK) Ltd (AJG) in early April 2010 and all client money arrangements applicable to the active business are now being managed by AJG.

The run-off of the inactive business continues to be administered by FirstCity.

Says Walker: 'We are currently assessing the position and are looking to put in place arrangements for the run-off of the inactive business as soon as possible.'

 

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